A Must Read

[Guest]

Below is a well researched article by Matt Taibbi. Taibbi is a very prolific writer for Rolling Stone. Although RS is a far to the left mag, Taibbi's writing style is compelling and brutally blunt. This article is less "political", i.e. doesn't bash or support any particular ideology.... rather it reveals in painful depth and detail how our country has been hijacked by ruthless and very greedy powerbrokers who don't give a damn about anything but their next megamillion dollar deposit. This will sicken you with a sense of powerlessness and rage.

http://www.rollingstone.com/politics/story/26793903/the_big_takeover

[Guest]

Below is a well researched article by Matt Taibbi. Taibbi is a very prolific writer for Rolling Stone. Although RS is a far to the left mag, Taibbi's writing style is compelling and brutally blunt. This article is less "political", i.e. doesn't bash or support any particular ideology.... rather it reveals in painful depth and detail how our country has been hijacked by ruthless and very greedy powerbrokers who don't give a damn about anything but their next megamillion dollar deposit. This will sicken you with a sense of powerlessness and rage.

http://www.rollingstone.com/politics/story/26793903/the_big_takeover


Interesting read ~

I am just about finished with "House of Cards" by William D Cohan, a bestseller that is basically about the collapse of Bear Stearns, his history, etc.

It is a difficult read for me as I dont understand much of the technical aspect but have been wading through it looking up terms, etc to better understand.

What struck me as the writer discusses using Bear Stearns as the primary player is the knowledge that so many people had about the impending collapse and financial problems.

Dont have the book near at hand right now, but it discusses how President Clinton started the ball rolling with wanting everyone to be able to buy a home, no matter what. He stressed minorities and suddenly the rate of home ownership spiked and increased, for arguement sake from 44% to 50%, which alarmed many folks. This wanting home ownership to spike was continued by President Bush and of course our wonderful congress just went along for the ride. In 2005, Fed chairman Velcker remarked and mentioned his concern.

Now, meanwhile those on Wall St were making money with the mortgage situation, which is just what they do on Wall St. The stories about the money being made are incredible. What did the politicians expect to happen when the push for those who cannot afford mortgages and hand over to Wall St such a great opportunity to make money !!!

I am not finished, and not sure if Mr Cohan will make any judgements but seems thus far, our leaders KNEW this may happen with a great degree of certainity and they also knew that Wall St was reaping rewards, which is what they get paid to do. Meanwhile paying the politicians nicely which insured quiet from them.

I would suggest this book to all, but except for guys like VK who probably understand it better, it will take awhile :)

Thanks for a great link and hoping that maybe someday we will get angry at the right people....THOSE who were leading congress !